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83
Finance
12th Grade
01/02/2014

Additional Finance Flashcards

 


 

Cards

Term
Which is an example of saving?
Definition
Mary put money in a bank account.
Term
Which is an example of spending?
Definition
Mary bought a pair of designer jeans on the Internet.
Term
Which is an example of earning?
Definition
Sam sold things he made at a flea market.
Term
Susan is going to obtain a loan to buy a stereo system. This is an example of which economic activity?
Definition
borrowing
Term
Nancy works in a restaurant where she receives tips. Receiving tips is an example of which economic activity?
Definition
earning
Term
Amanda always wanted to become a nurse even though she knew that health care professionals do not generally make good salaries. Amanda's choice of occupation will directly influence her:
Definition
standard of living.
Term
Rick cannot afford to buy Christmas gifts for everyone in his family. This illustrates
Definition
the Law of Scarcity.
Term
Sharon paid for an unexpected trip to the emergency room instead of paying her car payment. This illustrates:
Definition
an opportunity cost.
Term
Tom borrowed $100 from a friend to buy items he needed for work with a retail value of $300. When he gets his next paycheck, he will have enough money to pay off the debt. This illustrates:
Definition
wise use of credit to extend a person's buying power.
Term
Kim has always loved and understood dogs; now she has a part-time job dog-sitting in the neighborhood. This illustrates:
Definition
using one's knowledge to increase earnings.
Term
The Hayes family puts aside $50 every month for unexpected emergencies. When Mr. Hayes lost his job, the family was glad to have this money to pay bills until he could find a new job. This illustrates
Definition
forming the habit of saving regularly.
Term
Jim decided to save his money for his senior expenses rather than spending it at the mall. This illustrates
Definition
making wise choices in light of trade-offs.
Term
Fred put 5% of his earnings into an interest-bearing savings account each month. For Fred, this illustrates which benefit of saving?
Definition
Can be used to earn additional income
Term
Fred put 5% of his earnings into an interest-bearing savings account each month. For Fred, this illustrates which benefit of saving?
Definition
Dorothy decided to keep her part-time job until she could find another so she could continue to meet her monthly expenses.
Term
Jim decided to save his money for his senior expenses rather than spending it at the mall. This illustrates:
Definition
making wise choices in light of trade-offs
Term
Fred put 5% of his earnings into an interest-bearing savings account each month. For Fred, this illustrates which benefit of saving?
Definition
Can be used to earn additional income
Term
Which is an example of responsible earning
Definition
Dorothy decided to keep her part-time job until she could find another so she could continue to meet her monthly expenses.
Term
Which is an example of responsible borrowing?
Definition
Ed accepted a loan from his uncle because he knew he could pay it back.
Term
Ted earns $250 a week from his part-time job. His goal is to save $150 each month to go on a vacation. Which phrase BEST describes this goal? (
Definition
Measurable, but not time-bound
Term
Mary's goal is to put aside money for Christmas presents from May until December. Which phrase BEST describes this goal?
Definition
Time-bound, but not measurable
Term
Matt's goal is to save his pocket money to buy a used CD player from his cousin who has just bought a new player. Which phrase BEST describes this goal?
Definition
Not measurable and not time-bound
Term
Mrs. Dunn always goes to the cleaners around the corner from her job. This illustrates a decision made: (
Definition
from habit.
Term
Mr. Matthews bought the first box of candy he saw for his wife's birthday. This illustrates a decision made:
Definition
on impulse.
Term
At breakfast, Carla's Dad announced a family trip to visit his mother. At lunch, Mary invited Carla on a shopping trip and Jeff invited Carla to join him for a picnic lunch. Then Carla realized that all the invitations were for the same day and she would have to make a choice. Which step in decision-making is this?
Definition
Identify the decision to be made
Term
Mark's car refused to start. He checked an online repair manual, looked at his bank balance, and asked his uncle, who is a mechanic, if he could teach him how to make needed repairs. Which step in decision-making is this?
Definition
Identify resources and gather information
Term
At the end of her freshman year at State University, Vera thought about the decision she had made to go to a state-supported university and realized she had made a smart choice. Which step in decision-making is this?
Definition
Evaluate the outcomes of the decision
Term
After he made up his mind to quit his job, Mr. Johnson wrote his letter of resignation with no difficulty. Which step in decision-making is this?
Definition
Put the decision into action
Term
Sarah's concern over the rate of inflation caused her to set a goal to reduce the amount of money she spends on impulse purchases. Which type of factor MOST LIKELY influenced Sarah's decision?
Definition
Economic
Term
The Perkins have one family member who is employed, another who has just been laid off, and two children in college. They decided to plant a vegetable garden to save money on food. Which type of factor MOST LIKELY influenced the Perkins' decision?
Definition
Family
Term
Sabrina saw a scrapbooking kit on a TV shopping network and decided immediately to call in an order. Which type of factor MOST LIKELY influenced Sabrina's decision? (NCCTE.9_12.SH.BF05.PF1.02)
Definition
Media
Term
Since she did not approve of slaughtering animals for their fur, Hilton decided not to purchase a coat with a natural fur collar. Which type of factor MOST LIKELY influenced Hilton's decision?
Definition
Moral
Term
Since his Bar Mitvah, Ben wears a skull cap at both synagogue and high school. Which type of factor MOST LIKELY influenced Ben's decision? (NCCTE.9_12.SH.BF05.PF1.02)
Definition
Cultural
Term
Since his Bar Mitvah, Ben wears a skull cap at both synagogue and high school. Which type of factor MOST LIKELY influenced Ben's decision?
Definition
Cultural
Term
Mandy researched the male/female ratios to help her select between the three universities that sent acceptance letters. She decided on the one with the largest male-to-female ratio. Which type of factor MOST LIKELY influenced Mandy's decision?
Definition
Demography
Term
Cal decided to take community college classes the summer after he graduated because high unemployment made it difficult to find summer jobs. Which type of factor MOST LIKELY influenced Cal's decision?
Definition
The workplace
Term
Which is the BEST example of wants influencing financial decisions? The Barton family decided to spend their tax refund to
Definition
take a trip they had longed for.
Term
Which is the BEST example of standards influencing financial decisions? The Darden family decided to spend their tax refund to
Definition
keep up with their neighbors by buying a new big-screen television.
Term
Which is the BEST example of family needs influencing financial decisions? The Martin family decided to spend their emergency savings on:
Definition
paying bills while Mr. Martin is laid off.
Term
Which is the BEST example of a family value of helping others influencing financial decisions? The Sigmon family decided to spend their emergency savings on:
Definition
a new stove for the soup kitchen where they volunteer.
Term
Single mom Marjorie works full-time to take care of her two children and her aging grandmother. Which lifestyle conditions does this illustrate?
Definition
Dependents, marital status, and employment status
Term
After her divorce, Marissa earned her master's degree and was hired as an executive in a downtown business firm. Which lifestyle conditions does this illustrate? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Marital status, education level, and employment status
Term
Doris and Bill Alston met with their lawyer to review their last will to be sure their children would be well-provided-for. Which stage of the financial life cycle does this illustrate? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Wealth distribution
Term
Jenny Jones has reached the top of her career field and earns a six-figure salary. She has invested 20% of her income for the past fifteen years in order to build assets to pay college expenses for her two teen children. Which stage of the financial life cycle does this illustrate? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Wealth accumulation
Term
Mark Johnson began work as a bank manager with a good salary after graduation last year. His wife is a full-time university student working on a master's degree. Which stage of the financial life cycle does this illustrate?
Definition
Basic wealth protection
Term
Pat has decided to attend the local community college before transferring to the nearest state university to earn a degree in computer technology. Which stage of the financial life cycle does this illustrate? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Before financial life cycle begins
Term
Which is an example of a midlife adult in a launching family?
Definition
Steve, age 45, married, two children in college
Term
Which is an example of an adult in a mid-years family? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Terry, age 58, lives with her 60-year-old husband, both plan to retire in five years
Term
Which is a typical activity of older adults in an aging family
Definition
Because Alice and Ashley began to have more health problems after retirement, they increased their insurance coverage.
Term
Which is a typical activity of working parents in a developing family?
Definition
Carol and Chuck are putting money into a college fund for their children.
Term
Which is a typical activity of midlife adults in a launching family?
Definition
While their children are in college, Deb and Dean are revising their retirement plans.
Term
Which is a typical activity of an adult in an parenting family? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Roxie set up a chores chart with daily tasks for each child in the family.
Term
Which is an example of a typical need of a beginning family?
Definition
Completing education needed to match career goals
Term
Which is an example of a typical need of an expanding family? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Purchasing supplies for a nursery for the new baby
Term
Which is an example of a typical income for an adult in a mid-years family?
Definition
Large salary for a management position
Term
Which is an example of a typical income for a teen in a parenting family?
Definition
Minimum wage job
Term
Which is an example of a typical income for an adult in a mid-years family? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
Large salary for a management position
Term
Which is an example of a typical expense for an adult in a launching family? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
College tuition
Term
Which is a variation of the typical family life cycle? (NCCTE.9_12.SH.BF05.PF2.01)
Definition
A mother's two children are in middle school; the stepfather's two children are grown.
Term
Which is a variation of the typical family life cycle?
Definition
A couple have decided not to have children.
Term
Theo did not feel comfortable telling the high-pressure time-share salesman "no," so he agreed to purchase the time-share condo at the beach even though he did not know how he would make the payments. Theo's behavior illustrates failure to:
Definition
communicate.
Term
After Frank inherited $100,000 from his rich uncle, he thought his financial difficulties had come to an end; but in six months, he had spent all of the inheritance and had very little to show for it. Frank's behavior illustrates failure to: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
plan.
Term
Meredith placed photos of herself wearing skimpy clothing on an interactive website. Now she is searching for a job and keeps getting turned down for interviews. She suspects that others have seen her photos on the website. Meredith's behavior illustrates failure to: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
protect.
Term
After receiving a chain letter promising he would receive lots of cash in the mail, Ted thought how lucky he was and sent cash to five strangers. Ted's behavior illustrates failure to: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
be informed
Term
Lisa did not take time to discuss with her husband her planned purchase of new bedroom furniture. When the furniture was delivered, her husband was not pleased with her choice. Lisa's behavior illustrates failure to: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
communicate.
Term
On the day of his Superbowl party, Dan went to the store four times to shop for snacks. Dan's behavior illustrates failure to: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
plan.
Term
Which illustrates a vague offer expecting one to pay up front? The woman: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
promised the shopper she'd tell her how to get the piano at no cost if she'd purchase piano lessons.
Term
Which illustrates reporting a fraudulent scam to a consumer government agency? (NCCTE.9_12.SH.BF05.PF2.02)
Definition
Completing a complaint form and submitting it on the Federal Trade Commission website
Term
Which illustrates seeking help from a local agency? (NCCTE.9_12.SH.BF05.PF2.02)
Definition
Contacting the Better Business Bureau
Term
Which illustrates using available media to communicate and protect others? (NCCTE.9_12.SH.BF05.PF2.02)

Which illustrates using available media to communicate and protect others? (NCCTE.9_12.SH.BF05.PF2.02)
Definition
Calling your daughter to warn about scam artists going door to door
Term
Elmer decided to take a part-time job at the nursing home because it makes him feel good to help others. Which personal strategy for achieving goals is this?



Elmer decided to take a part-time job at the nursing home because it makes him feel good to help others. Which personal strategy for achieving goals is this?
Definition
Identify types of work that make you feel you are making a difference
Term
George decided to take a course in speed-reading so he could read work materials more quickly. Which education strategy for achieving goals is this? (NCCTE.9_12.SH.BF05.PF3.01)
Definition
Invest in human capital to increase productivity
Term
Jennifer chose to apply for admission to a school known for admitting students with GPAs similar to hers. Which education strategy for achieving goals is this?
Definition
Consider your high school record and performance
Term
After Lorie worked part-time in a shoe store in high school, she planned to go to college to become a teacher. Which strategy for achieving goals is this? (NCCTE.9_12.SH.BF05.PF3.01)
Definition
Select jobs for short-time purposes, careers for longer
Term
Karl went to work as a supermarket checker to help pay his tuition while he was in college. Which strategy for achieving goals is this? (NCCTE.9_12.SH.BF05.PF3.01)
Definition
Use jobs to supplement income
Term
Which illustrates a vague offer expecting one to pay up front? The woman: (NCCTE.9_12.SH.BF05.PF2.02)
Definition
promised the shopper she'd tell her how to get the piano at no cost if she'd purchase piano lessons.
Term
Which illustrates reporting a fraudulent scam to a consumer government agency? (NCCTE.9_12.SH.BF05.PF2.02)
Definition
Completing a complaint form and submitting it on the Federal Trade Commission website
Term
Which illustrates seeking help from a local agency? (NCCTE.9_12.SH.BF05.PF2.02)
Definition
Contacting the Better Business Bureau
Term
Which illustrates using available media to communicate and protect others? (NCCTE.9_12.SH.BF05.PF2.02)

Which illustrates using available media to communicate and protect others? (NCCTE.9_12.SH.BF05.PF2.02)
Definition
Calling your daughter to warn about scam artists going door to door
Term
Elmer decided to take a part-time job at the nursing home because it makes him feel good to help others. Which personal strategy for achieving goals is this?



Elmer decided to take a part-time job at the nursing home because it makes him feel good to help others. Which personal strategy for achieving goals is this?
Definition
Identify types of work that make you feel you are making a difference
Term
George decided to take a course in speed-reading so he could read work materials more quickly. Which education strategy for achieving goals is this? (NCCTE.9_12.SH.BF05.PF3.01)
Definition
Invest in human capital to increase productivity
Term
Jennifer chose to apply for admission to a school known for admitting students with GPAs similar to hers. Which education strategy for achieving goals is this?
Definition
Consider your high school record and performance
Term
After Lorie worked part-time in a shoe store in high school, she planned to go to college to become a teacher. Which strategy for achieving goals is this? (NCCTE.9_12.SH.BF05.PF3.01)
Definition
Select jobs for short-time purposes, careers for longer
Term
Karl went to work as a supermarket checker to help pay his tuition while he was in college. Which strategy for achieving goals is this? (NCCTE.9_12.SH.BF05.PF3.01)
Definition
Use jobs to supplement income
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